An increase in smart meter deployments will see the global market for wireless communication modules approximately double in value over the coming years, jumping from $532 million (€393 million) in 2012 to $1.3 billion (€961 million) in 2020, at a CAGR of 12 per cent, according to a new report from research and consulting firm GlobalData. North America is currently the dominant player in the global wireless communication modules market for smart meters and will be a key driver of future growth, with market revenue expected to climb from $379 million in 2012 to $433.7 million in 2020.
However, Europe will also continue to account for a considerable share of the global market, thanks to a significant number of pilot-scale projects getting underway across the region. The uptake of wireless communication modules in the UK, Denmark and Ireland in particular looks promising, according to GlobalData, and these countries are predicted to occupy an even larger share of Europe's wireless smart meter communication market by the end of 2020. Report